Team Herald
PANJIM: The State cabinet on Wednesday granted approval for an extension to the debt relief scheme for mining affected borrowers of financial institutions.
Chief Minister Manohar Parrikar said there was a representation from barge owners and the Barge Owners Association to extend the scheme for a further period as there were technical difficulties in availing the scheme and banks were not willing to forward proposals lying with them beyond the cut-off date of March 31, 2016.
“The extension will be limited only to those proposals that are pending with the banks or those which were rejected earlier,” the Chief Minister said.
The Supreme Court ban on Mining since 2012 had led to stakeholders facing financial distress. Borrowers who availed credit facilities for barges, trucks, tippers, mining machinery or equipment for mining sector from various financial institutions were unable to meet their repayment commitments.
Taking into consideration the loan liabilities of the borrowers the State had committed to provide financial relief to the borrowers who defaulted with banks and were in financial distress.
The government had announced financial assistance to mining affected people and formulated a scheme to assist the borrowers who came forward to settle these liabilities with the banks.
